The rally in Bitcoin mining stocks linked to AI and data center expansion continued on May 28, with IREN rising more than 13% and both Cipher Digital and Hut 8 hitting record highs. The latest update adds that investors increasingly view AI power and compute infrastructure as more attractive than traditional Bitcoin mining, reinforcing the broader miner-to-AI shift. Earlier reported company-specific drivers remained in focus, including IREN’s financing and infrastructure plans and Riot’s disclosure of first-quarter data center revenue alongside a large Bitcoin treasury.